How a North Carolina Remainder Beneficiary Can Sell Real Estate After a Life Estate Ends Detailed Answer North Carolina property law treats a life estate and the remainder interest as separate pieces of ownership. While the life tenant is alive, the life tenant controls and uses the property. When the life tenant dies, legal title…
Detailed Answer When a foreclosure sale in North Carolina brings in more money than the amount owed on the mortgage, the extra funds are called surplus funds. Under North Carolina law, anyone with a valid claim to those surplus funds can petition the court for payment. The key steps and deadlines are outlined in N.C.…
How can an executor obtain missing 1099 forms for a North Carolina estate? Detailed Answer When you serve as the executor (personal representative) of an estate in North Carolina, you must gather all income information to file the decedent’s final federal and state tax returns. Form 1099s report various types of income, including interest, dividends,…
Can an executor unilaterally sell inherited real estate if the will doesn’t order its sale? 1. Detailed Answer In North Carolina, an executor (known as a personal representative) holds only the powers granted by the will or by statute. If the will does not explicitly authorize the sale of inherited real estate, the executor cannot…
How to Open an Intestate Estate in North Carolina Detailed Answer When someone dies without a valid will in North Carolina, their assets pass through a process called intestate administration. To begin, you must petition the clerk of superior court in the county where the decedent lived. Under N.C. Gen. Stat. § 28A-7-1, the petition…
How Does a North Carolina Personal Representative Locate, Verify and Secure Insurance Proceeds for a Decedent’s Accident Claim? Detailed Answer When someone dies after an accident, a personal representative (formerly called an executor or administrator) oversees the probate process in North Carolina. One of the representative’s key duties is to find and collect all assets…
What information and documents are needed for your initial call with a North Carolina probate attorney? Detailed Answer When you contact a probate attorney in North Carolina, gathering key information and documents beforehand helps make the conversation efficient. Your attorney uses the details to assess your situation and explain next steps under Chapter 28A of…
Does a Final Divorce Automatically Revoke a Former Spouse’s Status as Executor and Beneficiary Under a North Carolina Will? 1. Detailed Answer Under North Carolina law, a final divorce generally does revoke any gifts, appointments, or nominations in your will that favor your former spouse. This rule appears in the North Carolina General Statutes at…
Why Should a Personal Representative Transfer Estate Funds into a Client Trust Account Before Final Distribution in North Carolina? Detailed Answer When you serve as a personal representative for an estate in North Carolina, you hold a fiduciary duty to manage the estate’s assets with the highest care. One best practice is to transfer estate…
How to Obtain Proof of Death to Open a North Carolina Intestate Estate When the Death Certificate Is Missing Detailed Answer In North Carolina, the clerk of superior court requires proof of death before issuing letters of administration in an intestate estate. The usual proof is a certified copy of the death certificate. If the…
